Starbucks reports Q3 comparable store sales growth of 7.9%, exceeding analyst consensus

Starbucks reported a 7.9% increase in global comparable store sales, outperforming the 5.7% consensus estimate despite a 1.4% year-over-year decline in total revenue. The growth was driven by a 4.2% rise in transaction volume and a 3.5% increase in average ticket size, prompting the company to raise its forward-looking targets.